A Lien That Is Expanded to Cover Any Additional Property

question 51

Multiple Choice

A lien that is expanded to cover any additional property that is acquired by the debtor while the debt is outstanding is known as a:

• A) tax lien.
• B) possessory lien.
• C) floating lien.
• D) blanket lien.
• E) judgment lien.

---

Definitions:

De Facto Corporation

A corporation in existence by operations and public dealings, despite not completing the formal requirements.

Corporate Entity

A legal entity that is separate and distinct from its owners, which can own assets, incur liabilities, and conduct business.

Debt Securities

Financial instruments representing money borrowed that must be repaid, with terms that define the amount, interest rate, and maturity date.

Bonds

Fixed income investments in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period at a variable or fixed interest rate.